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Beauty Cosmetic produces hair tonic through two manufacturing processes; Mixing and Packaging. Production begins in the Mixing Department where materials are added at the beginning
Beauty Cosmetic produces hair tonic through two manufacturing processes; Mixing and Packaging. Production begins in the Mixing Department where materials are added at the beginning of the process and conversion costs are incurred uniformly throughout the process. The company uses a weighted average process costing system to accumulate production and cost data. On 1 January 2022, the beginning work in process inventory consist of 13,000 units, which were 40% complete. The company incurred a total cost of RM255,575 and RM220,800 of which were materials costs. Cost and production data for the month of January are as follows: MaterialsaddedConversioncostsincurredUnitscompletedandtransferredoutinJanuaryUnitsinendingworkinprocesson31January(70%complete)RM309,450RM176,80026,2509,000 Required (a) Compute the physical units, equivalent units of production for materials and conversion costs in the Mixing Department for the month of January. Show all your workings. (b) Compute the costs assigned to the ending work in process inventory on 31 January. Show all your workings. (c) Compute the costs accounted for the month of January. Show all your working
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